What are the responsibilities and job description for the Development Accountant position at The Commonwealth Companies?
The Development Accountant will provide support to The Commonwealth Companies’ accounting and development functions. Duties will include, and are not limited to, ensuring accuracy of initial project budgets, submitting project draws to funding sources, coordinating the cost certification reports for development projects, maintaining project balance sheets and be a key point of contact for external accounting firms and property managers after development information is transferred. Effective communication with other parties is a crucial responsibility of this role. An ideal candidate identifies opportunities for process improvement and seeks to be a partner and financial resource for different departments across the companies.
ESSENTIAL DUTIES and RESPONSIBILITIES:
- Monitors project bank account activity and ensures it is properly reflected in project budget reports and balance sheets.
- Ensures prepaid development costs are accurately tracked, and reimbursements are submitted in a timely manner.
- Prepares monthly draw packages for projects under development, obtains required approvals and submits requests to funding sources.
- Prepares and records construction in-process general journal entries to the general ledger for each project.
- Prepares project budget and contingency tracking report packages.
- Coordinates the transfer of financial information and beginning account balances to property managers.
- Works closely with third party accountants to ensure cost certification reports and mini audits are prepared timely and accurately.
- Perform other special projects and duties as assigned.
PREFERRED QUALIFICATIONS:
- Associate’s degree (considered), bachelor’s degree, or equivalent, in Accounting or Finance
- 3 years of experience in General Accounting can be considered in lieu of an associate’s degree
- 5 years of experience in General Accounting can be considered in lieu of a bachelor’s degree
- Experience working with QuickBooks, Sage 300 or similar accounting systems
- Real estate development experience is desired
- Advanced Excel and data analytics skills
- Excellent written and verbal communication skills
- Detail oriented and possesses strong interpersonal skills